CBRE Arranges $30.4MM in Financing for Independent Living Apartment Community in San Mateo, CA

San Francisco, CA – January 11, 2017 – CBRE Capital Markets’ Debt & Structured Finance team has arranged $30.4 million in financing for the acquisition of The Villa at San Mateo, a 135-unit independent living senior apartment and mixed-use community in San Mateo, California.

Andrew Behrens and Jesse Weber of CBRE’s San Francisco office secured the 10-year, fixed-rate loan on behalf of the borrower, Elder Care Alliance. The loan was provided by Fannie Mae.

“Elder Care Alliance is excited to welcome The Villa at San Mateo into our family. With its rich history and unique offerings, it is a vibrant community for older adults. We are extremely pleased to expand our footprint in the San Francisco Bay Area and offer more affordable independent living options for older adults,” said Adriene Iverson, president and CEO of Elder Care Alliance.

This charming and historic 4.5-acre property was originally built as The Villa Hotel and converted to apartments in 2006. The property boasts community amenities such as a resort-style pool, community room, game room, library, theatre room, and fitness center. The property also contains 9,932 square feet of commercial space that consists of a restaurant and five other retail spaces.

The Villa at San Mateo is located on El Camino Real, just minutes away from the Hillsdale Shopping Center, which is currently undergoing a 290,000-sq.-ft. expansion. The property is located less than 3 miles away from Downtown San Mateo, providing residents with thriving shopping, dining, and entertainment options; 20 miles south of San Francisco, 15 miles north of Palo Alto, with great access to I-280, CA-101, and the San Mateo Bridge.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

About Elder Care Alliance
Elder Care Alliance is a California-based non-profit organization in Alameda that has served seniors and their families throughout California for the last 110 years. Operating from both the mind and the heart, the Elder Care Alliance mission is to serve and enrich the holistic wellness of older adults through education, innovation and a network of professionals. Elder Care Alliance communities offer a variety of services, including assisted living, memory care, skilled nursing and independent living. For more detail, please visit www.eldercarealliance.org

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